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Brown & Brown: 52-Week High Recently Eclipsed (BRO)

By Shiri Gupta

Shares of Brown & Brown (NYSE:BRO) traded at a new 52-week high today of $37.50. This new high was reached on below average trading volume as 79,000 shares traded hands, while the average 30-day volume is approximately 712,000 shares.

In the past 52 weeks, Brown & Brown share prices have been bracketed by a low of $28.41 and a high of $37.50 and are now at $37.45, 32% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Based on a current price of $37.45, Brown & Brown is currently 5.1% above its average consensus analyst price target of $35.55. The stock should discover initial support at its 50-day moving average (MA) of $34.66 and subsequent support at its 200-day MA of $32.56.

Brown & Brown, Inc. and its subsidiaries provide a range of insurance and reinsurance products and services. The Company also provides risk management, employee benefit administration, and managed health care services. Brown & Brown operates offices across the United States.

SmarTrend recommended that subscribers consider buying shares of Brown & Brown on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.54. Since that recommendation, shares of Brown & Brown have risen 18.8%. We continue to monitor BRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows brown & brown

Ticker(s): BRO